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Exhibit 13.3
The following questions refer to the information below.
A company has recorded the following customer inter-arrival times and service times for 10 customers at one of its single teller service lines. Assume the data are exponentially distributed and the 10 data points represent a reasonable sample.
-Refer to Exhibit 13.3. What is the mean service rate per hour?
Specific Tools
Specialized instruments or software used for particular tasks or measurements.
Experimental Techniques
Methods and procedures used in scientific research to manipulate and observe variables to determine cause-and-effect relationships.
Sample
A subset of a population that is used for measurement and analysis, representing the larger group from which it is drawn.
Descriptive Statistics
The branch of statistics that deals with the collection, analysis, interpretation, and presentation of masses of numerical data.
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